Legislators look into draft amended anti-money laundering law

Hanoi (VNA) – Legislators scrutinised a proposal and a report on the draft Law on Money Laundering Prevention and Control (amended) as part of the 4th session of the 15th National Assembly (NA) in Hanoi on October 20.

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong presented the Government’s proposal, saying the amendment is necessary as it will help Vietnam fulfill its obligations in international treaties and commitments, while demonstrating the country as a responsible member in the fight against money laundering, terrorist financing, and the financing of proliferation of weapons of mass destruction in the region and the world.

The draft law comprises four chapters and 65 articles.

According to the report assessing the drat law presented by Chairman of the NA’s Committee for Economic Affairs Vu Hong Thanh, the committee agreed on the need to amend the law to fully institutionalise guidelines of the Party and the State, deliver on commitments under international treaties and agreements, and ensure security and safety of national finance and currency amidst complex developments of the world situation and the rapid development of science and technology.

The amendment also contributes to intensifying the effectiveness of the fight against corruption and other negative phenomena, the report says.

Earlier, the NA discussed the Government’s report on the implementation of the State budget in 2022, the state budget estimate and central budget allocation plan for 2023, and the 2023-2025 financial plan./.